Last year the Department of Justice won the anti-trust lawsuit against Penguin Random House when it had tried to acquire Simon & Schuster. The financial penalties led PRH to eliminate a good number of people from top executive positions. Not surprisingly, some of those great minds decided there might be a different business model for book publishing worth investing in and have started Authors Equity. Madeline McIntosh (former chief executive of PRH) Don Weisberg (former chief executive of Macmillan) and Nina von Moltke (former president of strategic development at PRH) provide executive leadership for Authors Equity with investments from some big name authors including Louise Penny and Tim Ferriss. Their business model signals an inflection point in publishing. Authors Equity won’t offer a contract with money upfront or guarantee payment, but it promises to provide authors with 70% of the profits in return for an initial investment. Successful authors recognize a better deal than 5% net profit on their books with traditional publishers. Subsidy publishing has gone mainstream. Advances on copyright royalties have dropped so low in recent years that it is untenable for authors to spend a year or two writing a manuscript for a few thousand dollars. Increasingly, agents are unable to sell manuscripts to the top trade publishers who are only acquiring new projects from authors who have previously had blockbuster sales. I now hear traditional publishers referred to as “legacy” publishers. There is a fundamental shift of financial risk from the publisher to the author underway.…

As gift-giving season draws closer, publishers look to retailers to stock up for the holidays, but this season, one of the largest retailers, Amazon, decided to drastically cut book orders to publishers. The cuts are due to space issues in Amazon’s warehouses as they make room for “bigger-ticket items for Black Friday and Cyber Monday,” Publisher’s Weekly suggests. This choice to cut orders has a significant impact on publishers, resulting in lower sales during a season when publishers count on high buy-ins. Amazon’s decision is especially hurtful to indie publishers who rely heavily or completely on Amazon for sales. The decision “will affect publishers’ bottom lines for months to come,” Independent Book Publishers Association (IBPA) states. Despite the fact that Amazon began as an online bookstore in 1994, its ever-increasing dominance and power creates a dependency that ultimately hurts the book industry. Amazon has no devotion or concern for the book industry, and its decision to cut book orders demonstrates just how important it is for book lovers to avoid Amazon for book purchases. The head of one company suggested moving more sales to retailers like Walmart and Barnes & Noble, but the best thing book buyers can do to support the industry is to make purchases from local independent bookstores. Purchasing from indie bookstores supports jobs, authors, and the local economy in a way that large retailers like Amazon simply cannot. Despite its convenience, Amazon is ultimately a harm to the book industry. This season, support your local community…

Military Writers Society of America convenes in Ohio September 27-29 for the annual conference and awards Banquet. An association of more than a thousand authors, poets, and artists come together by the common bond of love for the men and women who defend our nation, and a deep and personal understanding for their sacrifice and dedication. Their stories weave the fabric of our nation’s history. Leila Levinson, author of Gated Grief: The Daughter of a GI Concentration Camp Liberator Discovers a Legacy of Trauma, will offer several workshops on writing to heal. Veterans, First Responders, and other professionals who serve those suffering from trauma learn how to help others use writing as a healing modality. Swenson Book Development, LLC has been invited to present two panels on “Getting Your Book Published,” and “Marketing Today,” and participate in another panel on book publicity and promotions. One-on-one pitch sessions are also available. Danielle Sherwood is flying in from Seattle and Jill is driving from Ithaca to join Cathryn Prince from Connecticut. Cathryn Prince will read from her forthcoming Death in the Baltic: The WWII Sinking of the Wilhelm Gustloff, discuss her research methods, and answer questions from the audience. On January 29, 1945, nearly 10,000 German refugees and wounded soldiers attempted to flee across the Baltic Sea aboard the Wilhelm Gustloff, a cruise liner turned escape ship. Three Russian torpedoes struck the boat, causing catastrophic damange. It sank and 9,000 people perished. Nazi and Soviet censorhship condemned the story to obscurity. Based…